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A bullish engulfing is a candlestick reversal pattern in the 12 golden K lines, often regarded as a signal that a downtrend is about to retrace or end.
The bullish engulfing pattern has very high structural requirements. The most perfect scenario consists of two candlesticks of opposite colors, with the first one being a bearish candle and the second one being a bullish candle. The body of the second bullish candle must completely engulf the body of the first bearish candle, presenting a fully wrapped state.
A bullish engulfing pattern can also have a distorted structure, as shown in the figure. However, the essence remains unchanged: the body of the final bullish candle must completely envelop the body of the preceding bearish candle.
Note:
1. Appearing at the bottom of a downtrend, it is highly likely a signal that the trend is about to reverse or end.
2. The bullish engulfing did not occur at the bottom of the trend, abandon entry.
3. Be cautious when entering the market if the shadow is too long.
4. Must be used in conjunction with key levels.
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